Jubilant FoodWorks - Focus On Expanding Store Network: Motilal Oswal

We maintain our Neutral rating; we believe India business recovery will be more critical for the stock’s performance.

Domino's Outlet Operated by Jubilant FoodWorks Ltd.  (Photographer: Vijay Sartape/ Source: NDTV Profit) 

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Motilal Oswal Report

We valued Jubilant FoodWorks Ltd. on the SOTP basis, with Domino’s India business at 55 times price/earning and all other initiatives separately.

However, with the delisting of DP Eurasia and the separate classification available for international profit, we are now changing the valuation method. We value the India business at 55 times P/E and international business at 35 times P/E on FY26E to arrive a target price of Rs 480 (unchanged).

We maintain our Neutral rating; we believe India business recovery will be more critical for the stock’s performance.

Click on the attachment to read the full report:

Motilal Oswal Jubilant FoodWorks Update.pdf
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